The EUR/USD trades around 1.0610, unchanged daily basis and confined to a 40 pips range ever since the day started. The release of the final revisions of the region manufacturing PMIs, showed that final EU reading came in at a 34-month high of 53.7 in November, up from 53.5 in October, unchanged from the earlier flash estimate. The German reading, however, came in at 54.3 from an initial estimate of 54.4.
The EUR/USD pair trades marginally higher in the European morning, but has spent most of the last session range bound, as the market awaits for the US ADP employment survey and the outcome of the OPEC meeting that will take place today starting at 10:00 GMT. The dollar is under moderate selling pressure on comments from Iran oil minister, who said that Iran won't freeze output, but that there's another arrangement underway, resulting in oil prices jumping. The organism is expected to offer a statement around 16:00 GMT.
Markets are in quiet consolidation this Tuesday, with the EUR/USD pair hovering around the 1.0600 level. Stocks trade in the red, both Asia and Europe, maintaining the negative tone seen on Monday. The macroeconomic calendar will be more lively today, with consumer and business sentiment in the EU, German November inflation, and the second reading of the US Q3 GDP. Later on the US afternoon, a couple of FED members will hit the wires in different speeches, although not major surprises are expected for today. In fact, is probable that the market will wait for Friday's NFP report to take firmer positions.
The American dollar eases against all of its major rivals at the beginning of the week, with no major data released overnight. Denting investors' sentiment are diminishing hopes for a deal among worldwide oil producers to cut production, after Saudi Arabia announced it won't meet today with non-OPEC producers, as it wants to focus on having consensus within the organization first. US yields are down with the 10-year Treasury yield down around 5 basis points, further weighing on the greenback.
The EUR/USD pair trades uneventfully a few pips above the 1.0600 mark this Wednesday, unaffected by positive local data. The release of the European preliminary Markit PMIs showed that growth remains solid in the region, with the EU manufacturing reading at 54.1 and the services one also at 54.1, both above expectations and final October figures, leaving the Markit Composite PMI at 53.7.French readings beat expectations, while in Germany, manufacturing ticked modestly lower but posted a strong 54.4, while the services sector is estimated to have grew, up to 55 from previous 54.2.
The EUR/USD pair trades modestly higher in another quiet London session, with the dollar affected by demand for safe-havens yen and gold during the Asian session, as an earthquake hit Japan, while a Tsunami alert was issued. Fortunately, there were no major consequences, and the alert was lifted. Also, US elected President, Donald Trump, has outlined his plans for his first 100 days in office, and announced that he intends to withdraw the US from the Trans-Pacific Partnership deal, a 12-nation trade pact aiming to liberalize the flow of goods among countries in the Pacific Rim and represents the 40% of the world's economy. Indeed, risk aversion can hit the market strongly later today.
The week started in slow motion, with the greenback trading marginally lower across the board. The common currency has regained the 1.0600 level, and pressuring Friday's high against the greenback of 1.0642. There are no major catalyst around, with a scarce macroeconomic calendar, although ECB's head, Mario Draghi, is due to testify about the European Central Bank's Annual Report before the European Parliament. Asian shares trade higher, but European equities are struggling around their opening levels, whist commodities trade modestly higher, with crude outperforming, up to $47.00 a barrel.
Dollar' advance continues, with the EUR/USD pair falling sub-1.0600 for the first time since December 2015, when the pair bottomed at 1.0505. ECB's head was on the wires this morning, speaking at the 26th European Banking Congress in Frankfurt, although he added nothing new to what the market already know about economic policy. In Germany, the PPI beat expectations in October rising by 07% in the month, when compared to September, and fell by 0.4% compared with the corresponding month of the preceding year, well above previous -1.4% and the expected -0.9%. Still, the positive number did little for the common currency.
Majors have consolidated during the past Asian session, with the dollar marginally lower against most of its rivals, exception made by the Aussie, as tepid local employment data kept the antipodean currency under pressure. As for the EUR/USD pair, it traded as high as 1.0727 this Thursday, but remains confined to a tight range around the 1.0700 level.
The EUR/USD pair fell down to 1.0699 this Wednesday, bouncing modestly afterwards, but maintaining the soft tone in the London morning. Stocks continue consolidating as the Trump euphoria receded, with European index trading modestly lower, but not far from their opening levels. The USD 10Year yield is above 2.20%, after a brief decline, underpinning the greenback.
The common European currency scored about fifteen pips against the US Dollar on early Tuesday morning, which could almost be called as remaining flat. Previously, on Monday the currency exchange rate fell from 1.0833 to end the day at 1.0737. During the move the pair passed the support cluster made up of the March low of 1.0822, the long term pattern's lower trend line at 1.0830 and the first monthly support level at 1.0806. It is most likely that the exchange rate will remain flat by the end of the day.
The greenback extends its advance at the beginning of a new week, trading not far from its year high against the common currency. The EUR/USD pair broke below the 1.0800 figure, and it is en route to January low of 1.0701, hovering around 1.0740. The macroeconomic calendar will remain light this Monday, with the EU releasing its Industrial Production figures for September, and a speech from ECB's head, Mario Draghi, at the Italian Treasury in Rome. There are no relevant data coming from the US, but a couple of FED's speakers, however, are scheduled for the next Asian session.
Markets stabilized after the US election's turmoil, with Asian stocks markets sharply higher and European indices modestly up after the opening. Currencies are mostly consolidating yesterday's moves, with the JPY and the EUR still underperforming. The EUR/USD pair traded as low as 1.0906 at the beginning of the day, with a recovery up to 1.0953 being quickly rejected. Early Europe, the pair stands in the 1.0920 region, with a clear bearish stance.
Donald Trump has been elected as the 45th US President, and the announcement triggered a dollar's sell-off that sent the EUR/USD pair to 1.1299, its highest since September 8th. His first speech, however, was a surprise, with a moderated tone. He pledged that he will the president for all Americans, and look to work together to unify the country.
The US is going to the polls, and a new president will emerge sometime after midnight GMT. The Trump-Clinton race has been dramatic, and the result will have a similar effect over the financial world, anticipating a lively day for this Wednesday. The strong moves markets saw this Monday, were merely corrective as assets as the yen and the gold, barely erased last week's losses, while stocks and European currencies are half-way of reverting Trump's led gains, which means that no matter who wins, the result is not yet priced in.
Late Sunday, the FBI announced that they found nothing in Hillary Clinton's new emails to change their previous conclusions expressed in July. The dollar gapped higher against its European rivals and the Yen, while stocks jumped on easing risk aversion. The EUR/USD pair fell down to 1.1056 at the weekly opening, and an attempt to recover ground was capped by selling interest around 1.1100. Despite the lack of momentum seen among currencies after London's opening, the pair trades a few pips below the mentioned level, with the dollar generally stronger across the board.
Markets were a bit quieter overnight, as Japan had a holiday, although the greenback remained under pressure. The JPY continued outperforming its major rivals, with the USD/JPY pair down to 102.54, as demand for safe-haven assets remained intact. As for the EUR/USD, the pair consolidated gains around 1.1100, hovering in a range limited by some 20 pips each side of the mentioned figure. There are some minor macroeconomic releases in the EU that will hardly affect the market, with the most relevant being European unemployment rate. However, the Bank of England in having its economic policy meeting, which may affect the EUR trough the EUR/GBP, triggering contrarian reactions in the common currency of those in the Pound.
The EUR/USD pair keeps advancing this Wednesday, trading at a fresh 3-week high, just below the 1.1100 mark in the European session. Data coming from Europe this morning has been quite encouraging, with German Markit manufacturing PMI coming in at 55 in October, an over two-year high, up from 54.3 in September. The unemployment rate in the country fell to 6.0% as the economy added new jobs at its fastest pace in over five years. The EU manufacturing PMI came in at 53.5, beating expectations of 53.3, and up from 52.6 in September.
The EUR/USD pair retreated modestly at the weekly opening, down to 1.0949 in the European morning, but remains generally weak across the board, after Friday's news over the FBI reopening its investigation on Democrat candidate Hillary Clinton's emails. Stocks in Asia and Europe are lower, while commodities also present a sour tone. Several Central Banks will have their economic policy meeting this week, which will end with the release of the US Nonfarm Payroll report, and these events are likely to set the tone until December's FED meeting.
The EUR/USD pair recover modestly during the past Asian session, trading a few pips above the 1.0900 mark ahead of the release of US advanced Q3 GDP reading. The pair has traded within a 100 pips range ever since the week started, setting a fresh multi-month low of 1.0850, which implies that the risk remains towards the downside. Still, a disappointing US growth figure can help the common currency extend its recovery, at least short term.
The EUR/USD pair holds steady around the 1.0900 level, with no major developments having took place during the Asian session. Stocks remain weak, although far from their early low, led by earnings reports. There were no relevant releases in Europe, with the market waiting for US data, as the country will release its September Durable Goods orders and Pending Home sales later on the day. On Friday, the US will release the first estimate of its Q3 GDP.